Archives For Income/Asset

Ronald L. Roberts, 54, Town and Country, Missouri, was sentenced to 68 months imprisonment on charges of mail and wire fraud in connection with his obtaining more than a million dollars from lenders in a loan fraud scheme.

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Kirk Smith, Harris County, Texas, has been ordered to prison following his conviction for defrauding seven different Houston, Texas-area banks of more than $2 million in 2007 and 2008 with a check kiting scheme, which allowed him to use inflated account balances to qualify for loans and lines of credit. Continue Reading…

Timothy P. Fitzgerald, 56, Leawood, Kansas, pleaded guilty in federal court to taking part in a fraud scheme wherein he falsified asset information to obtain a loan, which ultimately cost the Bank of Blue Valley more than $877,000.

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Michael C. Kaufman, Pittsford, New York, who was convicted following a federal jury trial of conspiracy to commit bank and loan fraud, as well as bank and loan fraud, was sentenced to a 12 months in prison and ordered to pay restitution in the amount of $1,360,893.72 by U.S. District Judge Frank P. Geraci.

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Carmen Denise Mosley, 44, Granada Hills, California, an accountant, was sentenced to 57 months in federal prison and ordered to pay approximately $1.1 million in restitution for her role in a mortgage fraud scheme in southern Nevada. The defendant conspired to obtain mortgage loans from financial institutions by causing materially false information to be placed in the buyers’ mortgage loan applications and supporting documentation.

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Paulynn Wright, 42, Knoxville, Tennessee, pleaded guilty on July 29, 2014, in U.S. District Court for the Eastern District of Tennessee at Knoxville, to conspiracy to commit wire fraud. Wright admitted conspiring to obtain a mortgage loan by providing false information to a lender.

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Manuel Herrera, 34, Sacramento, California, a licensed real estate agent, pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme wherein the defendant and his conspirators conspired to obtain home loans from mortgage lenders based upon false and fraudulent loan applications.

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Rodney Watts, 42, Bronxville, New York, the former chief investment officer of GDC Acquisitions LLC (GDC), was sentenced in federal court in Brooklyn, New York, to 37 months in prison, to be followed by five years of supervised release. The charges against the defendant arose out of a scheme to defraud Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.

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Mokorya Cosmas Wambura, 45, Takoma Park, Maryland, pleaded guilty to conspiring to commit wire fraud and aggravated identity theft arising from two separate residential mortgage fraud schemes.

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Jun Michael Dirain, 41, Antelope, California, pleaded guilty to conspiracy to commit wire fraud in connection with a mortgage fraud scheme.

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